PANews reported on January 20 that according to Jinshi, Bank of America said that as global markets get closer to Donald Trump's inauguration, the US economy remains resilient. Previously released employment data was strong, retail sales data was also solid, and core inflation was 3.2%, still at the high end of the range. The cyclical and structural dynamics of the US economy are consistent with the natural interest rate, which is quite close to the current Fed funds rate, but inflation remains stubbornly above the target. This alone gives the Fed reason to end the easing cycle. There is great uncertainty about the impact of Trump 2.0 in the United States and the rest of the world, and protectionist policies will have an impact on inflation expectations. More worryingly, excessive fiscal stimulus may have an impact on the potential for economic operation. Unlike market pricing, Bank of America believes that the Fed has completed the rate cut.